Key Considerations when Establishing Your Business Name
Feb. 25, 2021
What is in a name? When it comes to small businesses, the importance of your business’s name cannot be overstated. Choosing the right business name can increase brand recognition and establish your reputation. Once you have decided on a great name for your business, it is essential to take steps to protect that name. Failure to do so can lead to customer confusion, harm your bottom line, and even create legal problems.
Choosing a Name for Your Company that Will Help Your Business Thrive
The name you choose for your business will become an integral part of your overall brand. When choosing a name, it is important to consider the scope of your business and whether you intend on growing your business in the future. Do not choose a name that limits you to only one type of product or service. It is also crucial to choose a name that is catchy, easy to pronounce, and gives potential customers an idea of what your business provides.
Make sure that your name is not already being used by other businesses. Conduct a search through the U.S. Patent and Trademark Office as well as the Secretary of State to ensure that your name is not too similar to other business names. It is also a good idea to ensure that the .com domain name for your intended business name is available.
Getting Your Business Name Trademarked
Many people assume that registering a business as an LLC or other business entity provides legal protection against others using the name. However, registering the business only provides partial protection. Listing your business as an LLC prevents similar businesses in Illinois from using the name but not businesses in other states. It also does not prevent businesses from using the name informally as an assumed business name or “doing business as” (DBA) name.
If you get your business name trademarked, you gain exclusive rights to the name. Other businesses in the same industry cannot use the name – even if they are outside of Illinois. Once you have completed a thorough search of trademark databases to ensure the name is not already being used, you can submit an application to the U.S. Patent and Trademark Office.
Contact a Stamford, CT Startup Business Lawyer
Choosing your business name is one of the countless issues you will need to address when starting your business. A skilled Fairfield County business law attorney from the Law Offices of Peter V. Lathouris, LLC can help you choose a business entity, draft and review business contracts, and ensure that your business meets the applicable legal requirements. Call us today to schedule a free, confidential consultation.